Dubai – Mubasher: Islamic Arab Insurance Company (Salama), listed on the Dubai Financial Statement, has posted a 9% year-on-year increase in its net profit for the first quarter of 2019.

The leading Takaful solutions provider has logged AED 18 million in net profit for Q1-19, versus AED 16.5 million for the prior-year period, according to a press release.

The company’s gross contribution grew by 25% in Q1-19 to AED 358 million, versus AED 286 million in Q1-18.

Mustafa Kheriba, managing director of Salama, said: “Salama is poised to facilitate Takaful growth and expansion in the region, providing sustainable solutions that adhere to the highest ethical standards. We prudently manage risk and keep strong underwriting controls and checks to ensure our customers enjoy peace of mind at a fair price”.

Salama provides a wide range of services including family, motor, general, and health Takaful solutions for individual customers and institutions in the UAE, Saudi Arabia, Egypt, Jordan, Algeria, and Senegal.